*Whilst this tends to be the norm, should the developer wish, or if legislation
dictates, membership can be linked directly to a specific property.
Shared Ownership is increasing in popularity as an alternative to whole
ownership, and can be applied to both purpose-built developments and individual
properties. In essence, Shared Ownership enables people to own an interest in a
prestigious home [often in an exclusive holiday resort or glamorous city centre
location] that they might otherwise be unable to afford. It is equally
attractive to those who can afford to purchase property outright, but do not
have the time to use or maintain it all year round.
Shared Ownership is commonly sold in quarter or fifth shares, with periods of
the year being allocated on a rotational basis. As well as having all the
benefits of a management company to take care of the property, Shared Ownership
means that the “shared owners” have a direct interest in the value of the
asset.
Whether you are a property developer, a real estate agent, or an individual with
a high worth property to sell, Citadel can provide the Shared Ownership model
that most suits your individual requirements, and assist you every step of the
way in setting up the project in the jurisdiction in which the property is
situated, including the provision of all documentation necessary to effect the
sale, and an escrow facility for the proper collection and distribution of the
purchase monies. Citadel can also take care of the sale of a “shared owner’s”
interest in the property, or the ultimate disposal of the property and
distribution of the sales proceeds on the joint instruction of all the “shared
owners”.
If you have a property for sale, or are currently developing a project, that you
wish to promote on a Shared Ownership basis, why not contact Citadel now to
discuss your plans?
Note: Shared Ownership is not only confined to real estate. Luxury Yachts,
Prestige Cars and Private Jets are just some of the other luxury products that
are capable of Shared Ownership.
Private Residence Clubs [or PRCs as they are often referred to] are designed to
meet the needs of high-net-worth individuals who are looking for luxury,
flexibility and a high level of personal service akin to that of a 6 star hotel
or exclusive private members’ club. PRCs have many of the characteristics of
Shared Ownership, however, members of a PRC will usually own an interest in a
portfolio* of luxurious properties around the world, with the emphasis being on
privacy, personal concierge service and first class facilities.
Citadel has a wealth of experience in the setting up of Private Residence Clubs,
and the ongoing support necessary to ensure that the members’ rights to a share
of the Club’s assets remain protected throughout the Club’s life and that the
assets are properly distributed to the members when the properties are
eventually sold. By appointing Citadel to undertake this role you can be sure
that your project will be set up in the most efficient and cost-effective way,
and that you will be consulted at every stage to ensure that all of your
specific requirements are taken into account.